The elongated and valuation-sapping commodity price slump, coupled with the increased costs of new-era drilling and completion techniques, means the face of Canada’s junior oil and gas sector is changing.
Canadian gross domestic product (GDP) grew 1.2 per cent in 2015, significantly slower than the 2.6 per cent growth experienced in 2014. Provinces highly reliant on the energy sector, namely Alberta, Newfoundland and Labrador, and Saskatchewan, experienced contractions in GDP between 2014 and 2015, while the majority of the other provinces and territories saw some level of growth.
One of the benefits of the upcoming Canadian Society for Unconventional Resources (CSUR) annual field trip is that while the trip will examine specific units, the knowledge gained can be applied to other units.
The National Energy Board (NEB) said it continues to make strides toward increased regulatory transparency with the launch of a condition compliance web page that enables Canadians to track company compliance with pipeline approval conditions.
Journey Energy Inc. announced that Maple Investments Limited (MIE) has agreed to acquire an aggregate of 16,355,798 common shares and restricted voting shares in the capital of Journey from Infra-PSP PartnersInc.(PSP) for aggregate consideration of $33.85 million (being an amount of approximately $2.069 per Share) pursuant to a share purchase agreement dated Sept. 15, 2016.
Alberta Oilsands Inc. says it is currently considering its alternatives in relation to the proposed plan of arrangement with Marquee Energy Ltd., (DOB, Aug. 19, 2016), after the Court of Queen's Bench of Alberta ordered that AOS shareholders first must vote on the proposal.
Manitok Energy Inc. has filed a preliminary base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada for the offering of up to a cumulative amount of C$150 million of common shares, preferred shares, debt securities, subscription receipts, warrants, units or any combination thereof over the 25-month period for which the final short form base prospectus remains valid.
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